Rupee remains steady at 44.18/19 per USD

Mumbai, Sep 2: The Rupee was almost steady at 44.18/19 per US Dollar on suspected intervention by the Reserve Bank of India in the opening trade.

After opening weak at 44.23/24 against the previous close of 44.17/18 per dollar, the local unit remained steady as the central bank stepped in to prevent its sharp slide against the greenback. However, demand for dollar from banks representing foreign portfolio investors were expected to keep the pressure on the Indian unit, dealers said.